Tiger Management founder Julian Robertson thinks hedge funds that have positioned themselves for a “disaster” may be in for one themselves.

“I think right now they are all scared; they have made a mistake. They are really only going to be profitable in the event of a big disaster,” Robertson told Bloomberg TV.

Robertson established Tiger in 1980 with $8 billion and saw assets peak at $22 billion in 1998. The fund delivered average annual returns of 30%. Robertson is equally well known for having launched the careers of star managers like Lee Ainslie of Maverick Capital and Stephen Mandel of Lone Pine and for seeding the so-called 'tiger cubs.'